PCAOB fines three in latest reporting requirement sweep

The Public Company Accounting Oversight Board (PCAOB) continued its crackdown on reporting requirement violations with penalties against three audit firms, including a BDO affiliate.

BDO Taiwan was fined $35,000, while Jendrach Accounting and Professional Services and Brazil-based Moore MSLL Lima Lucchesi Auditores e Contadores were each assessed $25,000 penalties, the PCAOB announced Friday. Each firm agreed to be censured in reaching settlement.

The PCAOB accused BDO and Jendrach of failing to timely disclose their respective roles regarding audits of issuers or broker-dealers on the required annual form. BDO was faulted for not reporting its apparent work at China United Insurance Service, while Jendrach similarly did not disclose it issued an audit report for broker-dealer GM Securities.